Regulatory System Failure

  1. 46 Posts.
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    Hello fellow disillusioned shareholders.

    Here we are another full month after being promised, yet again, " Currently the Company has the following financial lodgements outstanding and has commenced a work program with its auditors to bring these up to date as soon as possible ".

    My suggestion is and I will do so later this week, it is to lodge yet another complaint with ASIC but with stronger wording, e.g.

    - 30 months behind with reporting functions
    - In 7 months have only delivered one set of accounts (Jan.2018), therefore statement of last October 2017 " has commenced a work program with its auditors to bring these up to date as soon as possible " is not false, but grossly misleading as as can be interpreted the statement of April 27  2018 as nothing since either.
    - Directors are drawing hundreds of thousands of dollars in salary and wages, whilst being totally unaccountable to shareholders.
    - Directors of ORH have failed to comply with the obligations of their office, prior to, and after complaints to ASIC
    - ORH is a prime example of the Regulatory System (ASIC) failing to protect investors

    Enlightening commentary here........ http://www.nortonrosefulbright.com/...understanding-the-regulatory-approval-process
    " In practice, SAFE approval is usually obtained within two weeks" - We are approaching two years.
 
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